First American Funds
, the proprietary fund family of US Bank
, has brought down sales charges on the First American Short Tax Free Fund
(FSHAX) and First American Short Term Bond Fund
The Minneapolis-based fund firm scrapped upfront sales charges for investors
who make purchases of at least $250,000 of Class A shares. For those
who make purchases in the $100,000 to $249,000 range, First American Funds lowered upfront sales charges from 175 basis points to 125 bps.
First American Funds had a total of $6.1 billion in AUM across its more than 50 open-end mutual funds as of end-June.
The First American
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